Forecast from company ForexMart

The forecast from the company ForexMart (ForeksMart)

Forecast USD / CAD July 18

Today, the Canadian currency was able to update the maximum value over the past 14 months, despite the fluctuations in oil prices. By the end of the trading day the pair USD / CAD traded near the 1.2626 mark. Substantial support to the loonie has monetary policy in Canada. The regulator decided to raise its key interest rate for the first time in seven years and does not rule out re-raising it in the next few months.

However, the uncertainty in the oil market is putting pressure on commodity assets and Canadian currency. These conflicting factors contribute to the formation of a pair of the flat dynamics. The forecast for tomorrow suggests a tool vibrations in the area 1,2620-1,2690. RSI indicator preferably is neutral.

Forecast USD / RUB on July 18

Today, trading in ruble pair were in a slight minus, compared with last week recovery. Oil prices have fallen, that halt the growth of the Russian currency at around 59. However, participants in the oil market are positive in anticipation of the OPEC conference in St. Petersburg on July 24. Parties to the agreement intend to discuss further freeze oil. On the other hand, an adverse effect on oil asset has a level of oil in the United States. IEA predicts growth of investments in US shale companies, leading to the development of the sector and, accordingly, production growth.

In the meantime, the pair USD / RUB demonstrates the consolidation above the level of 59 rubles. The RSI rebounded from the support line, indicating further growth of the dollar. The forecast for tomorrow suggests the strengthening US currency and a move above 60 rubles.

Forecast EUR / USD July 18

Today the pair is consolidating near the level of 1.14. The market is waiting for signals from the ECB about the actions regarding monetary policy. If after a session of the regulator followed comments about phasing out loose monetary policy, the euro exchange rate may strengthen.

Indicators show the continuation of growth of pair. We look forward to tomorrow movement of the pair to 1.15 and updating of local maxima.

Forecast GBP / USD on July 18

Today the pound is adjusted by highs and is trading around the level of 1.30. Briton strengthened against the backdrop of positive news for Brexit: The British government sent a written statement to parliament that acknowledges the existence of mutual obligations between the UK and the EU.

RSI is in overbought territory and moves to decrease, indicating that the termination of the growth of the pound. MACD, on the contrary, shows growth. If the couple is now attempting to go under the level of 1.30, we are waiting to fall to the lower boundary of the rising channel. Basically the same scenario pound growth seems to achieved maximum subsequently adjusted downward.